Catlin sees continued downward pressure on rates in 2007
Bermuda-based Lloyd’s and international specialty (re)insurer Catlin has issued a trading statement highlighting increased competition for business across classes, but stating overall satisfaction with rating adequacy and the potential margins on offer.
At the firm’s AGM Catlin described generally positive market conditions with gross premiums written during the first quarter of $1.2bn, compared with approximately $500m written in the first quarter
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